The article analyzes transaction processing times in Ethereum, emphasizing the importance of gas price dynamics and estimating their accuracy as provided by Etherscan and EthGasStation. It highlights that transaction gas prices depend on supply and demand, and offers a methodology for computing these times based on examining historical data, specifically by looking back 120 blocks or about 30 minutes. Results reveal substantial discrepancies in gas price estimations, which have implications for end-users relying on these platforms for accurate transaction timing and cost expectations.
In Ethereum, each block is appended every 15 seconds, making transaction gas prices sensitive to demand-supply dynamics, requiring historical observation for current pricing norms.
This study explores the accuracy of transaction processing time estimates from Etherscan and EthGasStation, revealing significant discrepancies that affect user experience.
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